I got 2 interesting pieces of mail today:
A catalog for fireworks- fireworks are illegal in Massachusetts. Think someone needs to take a look at their mailing list.
The second one is a bit more money related. I got an offer to skip my car payment for either June or July because it is summer! While that sounds good, read the fine print.
Vacations, major purchases, repairs...whatever the reason, Skip-A-Payment lets you decide when you need your money the most! Skip-A-Payment is a service that allows members to "skip" one full payment after six monthly loan payments are made on most loans or credit lines (except first mortgages, fixed-rate second mortgages and business loan accounts) for only $30 per loan per occasion. The loan must be current and interest continues to accrue during the month the payment is skipped.
Who is winning here? The bank or customer? The bank in the long term because they get to collect a fee as well as accure more interest.
Thanks but no thanks!
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